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#1
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SGC merely identified it as AUTHENTIC but did not define on the flip what exactly that meant. Authentic only means the item is a period piece and identifiable as relating to a certain issue referenced on the flip. What we do know is that it is a strip, whether you feel it is a post production continuous strip or made up of 5 pre production card's obverses mounted onto some kind of backing. Given that this is a unique item and nobody knows exactly what it was made for or how it was supposed to be made, not sure you can expect a grading company to do much more. We have all seen items in both SGC and PSA holders being called Authentic even after going through massive restoration. Obviously this "strip" has not but calling it anything other than Authentic would not be prudent giving there is no other example to compare it to.
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#2
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While I agree with you that we have seen SGC and PSA slab items as AUTHENTIC when they are perhaps trimmed or restored I would be shocked to find out that this proof strip would be labeled by SGC or even PSA as such if it was the creation Ted has declared that it is. 5 cards glued to a strip of paper can hardly be declared as an AUTHENTIC "T206 Proof strip". If that turns out to be true I am selling my thousands of graded cards.
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